Joseph Shulman Sells 13,281 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Stock

Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) insider Joseph Shulman sold 13,281 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.44, for a total value of $882,389.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Rhythm Pharmaceuticals Stock Down 0.5 %

Shares of RYTM opened at $59.77 on Friday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $30.90 and a 12-month high of $68.58. The stock’s fifty day simple moving average is $52.00 and its 200-day simple moving average is $46.34.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million for the quarter, compared to analyst estimates of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.41 EPS for the current year.

Institutional Investors Weigh In On Rhythm Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC increased its holdings in Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock valued at $27,000 after purchasing an additional 253 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares in the last quarter. American International Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 3.1% in the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after acquiring an additional 781 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the second quarter worth about $51,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the third quarter worth about $63,000.

Analysts Set New Price Targets

Several research analysts have commented on RYTM shares. Bank of America lifted their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Needham & Company LLC boosted their price target on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JMP Securities began coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective on the stock. Guggenheim began coverage on Rhythm Pharmaceuticals in a research note on Monday, October 21st. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, TD Cowen boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $62.30.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.